BANK & INSURANCE (PARTNERSHIP) PART 3

Total Questions: 45

41. ‘A’, ‘B’ and ‘C’ started a business by investing Rs. 4,000, Rs. 6,000 and Rs. 7,500, respectively. 5 months later, ‘A’ increased his investment by Rs. 500. After 1 more month, ‘B’ decreased his investment by Rs. 1000. After 3 more months, ‘A’ decreased his investment by Rs. 1,000, ‘B’ decreased his investment by Rs. 2,600 while ‘C’ decreased his investment by Rs. 900. If annual profit earned from the business is Rs. 20,000, then find the annual profit share of ‘C’.

Correct Answer: (d) Rs. 9,000
Solution:

Ratio of annual profit share of ‘A’, ‘B’ and ‘C’

= [4000 × 5 + 4500 × 4 + 3500 × 3] : [6000 × 6 + 5000 × 3 + 2400 × 3] : [7500 × 9 + 6600 × 3]

= 48500 : 58200 : 87300

= 5 : 6 : 9

Required profit = (9/20) × 20000

= Rs. 9,000

42. Rahim and Karim, together started a business by investing a total sum of Rs. 12,200 such that they invested their respective sums for 10 months and 5 months, respectively. If the profit share of Rahim is Rs. 4,452 out of the total profit earned from the business which is Rs. 8,692, then find the sum invested by Karim, initially.

Correct Answer: (a) Rs. 8,000
Solution:

Let the sum invested by Rahim be Rs. ‘x’

Sum invested by Karim = Rs. (12200 − x)

Profit share of Karim = 8692 − 4452 = Rs. 4,240

Ratio of profit shares of Rahim and Karim

= (x × 10) : {(12200 − x) × 5}

4452 : 4240 = 2x : (12200 − x)

21 : 20 = 2x : (12200 − x)

256200 − 21x = 40x

61x = 256200

x = 4200

Therefore, sum invested by Karim

= (12200 − 4200) = Rs. 8,000

43. Shreya and Priya started a business by investing Rs. 7000 and Rs. 5000 respectively. After ‘m’ months, Shreya added Rs. 2000 to her investment while Priya withdrew 20% of her investment. After next ‘n’ months, Shreya withdrew Rs. 3000 while Priya added an amount equal to three-fifth of her initial investment. At the end of two-years partnership, profit earned by Shreya and Priya is in the ratio of 3:2 respectively. Which of the following statement is true?

Correct Answer: (a) 8m + 15n = 216
Solution:

Shreya’s initial investment = Rs. 7000

Priya’s initial investment = Rs. 5000

Partnership period = 2 years = 24 months

Profit ratio of Shreya and Priya

= (7000 × m + (7000 + 2000) × n + (7000 + 2000 − 3000) × (24 − m − n)) : (5000 × m + (5000 − 20% of 5000) × n + (5000 − 20% of 5000 + 3/5 of 5000) × (24 − m − n))

= (7000m + 9000n + 144000 − 6000m − 6000n) : (5000m + 4000n + 168000 − 7000m − 7000n)

= (m + 3n + 144) : (168 − 2m − 3n)

Now, 3 : 2 = (m + 3n + 144) : (168 − 2m − 3n)

3 × (168 − 2m − 3n) = 2 × (m + 3n + 144)

504 − 6m − 9n = 2m + 6n + 288

8m + 15n = 216

44. Trisha and Misha invested Rs. 3500 and Rs. 3000 in a business. After 7 months both added Rs. 500 to their investments. If after a year the difference in their shares of profit is Rs. 1140, find the total profit at the end of year.

Correct Answer: (b) Rs 15770
Solution:

Ratio of shares of profit of

Trisha : Misha

3500 × 7 + 4000 × 5 : 3000 × 7 + 3500 × 5

⇒ 7 × 7 + 40 : 6 × 7 + 35

= 89 : 77

89x : 77x

12x = 1140

x = 95

(89x + 77x) = 166x

166 × 95 = Rs. 15770

45. In a business A and B invested Rs 5,000 and Rs 6,000 respectively. After 9 months from start of business, C invested Rs 12000 and A and B both withdrew Rs 1,000 each from their investments. If at the end of year B and C together got Rs 12,250 from the total profit, then what is the total profit?

Correct Answer: (a) Rs 18,900
Solution:

Ratio of shares A : B : C is

5000 × 9 + 4000 × 3 : 6000 × 9 + 5000 × 3 : 12000 × 3

19 : 23 : 12

Let x is the total profit

So [(23 + 12)/54] × x = 12,250

Solve, x = Rs. 18,900